The index fund business is a commodity business: the only way to compete (e.g., S&P 500 index funds) is by lowering fees, which have fallen to a few basis points with some funds now charging zero fees; this commoditization makes it hard to scale governance resources.
causalpending
Speaker
Bill AckmanEvidence Quote
“the problem with the index fund business is it's really a commodity business you know if you run an SP 500 index fund the only way that you can compete with other SP 500 index funds is by lowering your pricing”
Source
Bill Ackman: Dealing with Haters, My Largest Trade Ever, and Sounding the Alarm for the Government— The Knowledge Project PodcastCreated: 8/10/2026, 11:24:39 PM
My Notes
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